If you are an avid My College Options^® reader, you've heard us mention the FAFSA application process over and over again. There's a good reason for that: Beyond academic and extracurricular accomplishments,college financial aid centers around the FAFSA application.

Because we are committed to getting you through the college admissions process, we are going to do a weekly guide with every reason we can think of to get you through the financial aid process. Remember, getting accepted is great, but enrolling and being able to afford to attend is even better!

FAFSA Rule One: Get your family to file their 2008 taxes now!

You can't complete the FAFSA until you have last year's income tax returns in hand. Remember, FAFSA is "first come; first serve"- so your next click needs to be the FAFSA website

According to a recent article entitled "Don't Be Afraid of FAFSA",competition for government and college-funded financial aid is expected to rise given the recent economic downturn. Your future college and the federal government use the information in the Student Aid Report (generated by your completed FAFSA application) to determine how much your family is able to contribute and how much aid that they can provide to help bridge the financial gap.

So here is my advice for the week:

   1. Print off the FAFSA required document checklist: 

   2.Run, don't walk! Take the checklist to your parents or family member who supports you financially and set a date for when you are going to work through the application process using their W-2 or other taxable income documents, tax returns and other required information. 

   3. Stress the importance of time: Other students are filling out their FAFSAs even as you read and you need to know what your "Expected Family Contribution" is going to be for college your first year!

Have questions regarding the FAFSA?  Post a comment or send us an email!